Monarch Capital Management Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 22, 2026), Monarch Capital Management Inc. reported 130 stock positions worth $436.2 million. Its top holding was Microsoft (MSFT) at 4.1% of the portfolio, followed by Apple (AAPL, 3.9%) and Merck (MRK, 3.5%). Compared with Q1 2026, it opened 5 new positions, sold out of 2, added to 55 and reduced 55. The biggest buy was Abbvie (ABBV, shares +1%) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −24%).
- Most Recent 13F
- Q2 2026
- Location
- FORT WAYNE, IN
- CIK
- 0000938759
- Portfolio Value
- $436.2M (Q2 2026)
- SEC Filing
- 0000938759-26-000003 ↗ filed Jul 22, 2026
Holdings Value
Holdings 130 stocks · $436.2M
| MSFT Microsoft Corp. | 4.14% | 48,413 | $18.1M | Add +0.8% |
| AAPL Apple Inc. | 3.87% | 58,407 | $16.9M | Reduce -2.4% |
| MRK Merck & Co. Inc. | 3.53% | 119,322 | $15.4M | Reduce -1.0% |
| CSCO Cisco Systems Inc. | 3.45% | 128,027 | $15.0M | Reduce -4.4% |
| JNJ Johnson & Johnson | 3.36% | 57,752 | $14.7M | Reduce -1.2% |
| GOOG Alphabet Inc. Class C | 3.01% | 37,110 | $13.1M | Reduce -1.2% |
| WMT Walmart Inc. | 2.97% | 114,462 | $13.0M | Reduce -2.8% |
| ABBV Abbvie Inc. | 2.83% | 49,047 | $12.3M | Add +0.6% |
| HD Home Depot Inc. | 2.65% | 32,717 | $11.5M | Reduce -0.9% |
| PWR Quanta Services Inc. | 2.57% | 15,558 | $11.2M | Reduce -10.7% |
| MCD McDonald's Corp. | 2.33% | 37,652 | $10.2M | Reduce -0.7% |
| INTC Intel Corp. | 2.31% | 72,107 | $10.1M | Reduce -16.6% |
| FELE Franklin Electric Co. Inc. | 2.28% | 92,767 | $9.9M | Reduce -2.1% |
| SGOV iShares 0-3 Month Treasury B | 2.18% | 94,511 | $9.5M | Reduce -24.3% |
| LKFN Lakeland Financial Corp. | 2.08% | 146,833 | $9.1M | Reduce -0.8% |
| KR Kroger Co. | 1.96% | 154,200 | $8.6M | Add +3.4% |
| ADP Automatic Data Processing | 1.91% | 36,958 | $8.3M | Add +0.1% |
| EMR Emerson Electric Co. | 1.85% | 56,365 | $8.1M | Reduce -0.4% |
| USB US Bancorp | 1.72% | 123,612 | $7.5M | Reduce -0.6% |
| KO The Coca-Cola Co. | 1.68% | 89,785 | $7.3M | Reduce -1.7% |
| JPM JPMorgan Chase & Co. | 1.55% | 20,695 | $6.8M | Add +0.7% |
| PG The Procter & Gamble Co. | 1.53% | 45,496 | $6.7M | Reduce -0.9% |
| AFL Aflac Inc. | 1.45% | 54,068 | $6.3M | Reduce -1.5% |
| XOM Exxon Mobil Corp. | 1.42% | 45,435 | $6.2M | Reduce -5.2% |
| STLD Steel Dynamics Inc. | 1.40% | 26,525 | $6.1M | Reduce -8.9% |
| FFIV F5 Inc. | 1.34% | 14,036 | $5.8M | Reduce -2.9% |
| GOOGL Alphabet Inc. Class A | 1.23% | 15,058 | $5.4M | Reduce -3.4% |
| GILD Gilead Sciences Inc. | 1.18% | 40,685 | $5.1M | Add +1.4% |
| MMM 3M Co. | 1.16% | 31,332 | $5.1M | Add +0.4% |
| ABT Abbott Laboratories | 1.16% | 55,805 | $5.1M | Add +2.9% |
| CINF Cincinnati Financial Corp. | 1.15% | 27,051 | $5.0M | Reduce -0.5% |
| NEE Nextera Energy Inc. | 1.14% | 56,577 | $5.0M | Reduce -1.1% |
| SYK Stryker Corp. | 1.11% | 15,296 | $4.8M | Add +9.3% |
| MDT Medtronic PLC | 1.09% | 59,986 | $4.7M | Add +0.6% |
| SYY Sysco Corp. | 1.05% | 54,693 | $4.6M | Add +0.3% |
| GPC Genuine Parts Co. | 1.03% | 37,668 | $4.5M | Add +3.2% |
| APD Air Products & Chemicals Inc. | 0.92% | 13,761 | $4.0M | Add +0.3% |
| CARR Carrier Global Corp. | 0.79% | 46,960 | $3.4M | Add +0.2% |
| UPS United Parcel Service Class B | 0.79% | 32,036 | $3.4M | Add +1.8% |
| FLS Flowserve Corp. | 0.78% | 45,491 | $3.4M | Reduce -0.4% |
| ZBH Zimmer Biomet Holdings Inc. | 0.75% | 37,714 | $3.3M | Add +0.9% |
| VWO Vanguard Ftse Emerging Marke | 0.72% | 52,656 | $3.1M | Add +1.7% |
| PFE Pfizer Inc. | 0.70% | 127,572 | $3.1M | Add +2.2% |
| RTX RTX Corp. | 0.69% | 15,948 | $3.0M | Reduce -0.9% |
| FISV Fiserv Inc. | 0.64% | 56,749 | $2.8M | Add +24.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.63% | 5,531 | $2.8M | Reduce -0.7% |
| CB Chubb Ltd. | 0.61% | 7,853 | $2.7M | Add +2.6% |
| VTIP Vanguard Short-Term Tips | 0.59% | 51,236 | $2.6M | Reduce -3.9% |
| TGT Target Corp. | 0.57% | 18,999 | $2.5M | Reduce -1.4% |
| GE General Electric filed as GE AEROSPACE | 0.55% | 6,368 | $2.4M | Reduce -5.2% |
| REGN Regeneron Pharmaceuticals | 0.55% | 3,816 | $2.4M | Add +19.1% |
| ACN Accenture PLC Class A | 0.54% | 19,088 | $2.4M | Add +4.8% |
| DG Dollar General Corp. | 0.50% | 18,898 | $2.2M | Add +5.3% |
| CVX Chevron Corp. | 0.50% | 13,121 | $2.2M | Reduce -2.9% |
| OKE Oneok Inc. | 0.50% | 24,961 | $2.2M | Add +10.4% |
| RCI Rogers Communications Inc. Class B | 0.47% | 63,006 | $2.1M | Add +5.5% |
| CRM Salesforce Inc. | 0.47% | 13,029 | $2.0M | Add +21.7% |
| AES AES Corp. | 0.47% | 139,351 | $2.0M | Add +0.2% |
| VZ Verizon Communications Inc. | 0.47% | 48,126 | $2.0M | Add +2.0% |
| LMT Lockheed Martin Corp. | 0.47% | 3,992 | $2.0M | Add +10.2% |
| GEV GE Vernova Inc. | 0.46% | 1,710 | $2.0M | Reduce -6.1% |
| EEFT Euronet Worldwide Inc. | 0.45% | 26,680 | $2.0M | Reduce -7.3% |
| PEP Pepsico Inc. | 0.43% | 13,813 | $1.9M | Add +3.7% |
| PPL PPL Corp. | 0.43% | 51,041 | $1.9M | Add +2.9% |
| PM Philip Morris International | 0.43% | 10,213 | $1.9M | Reduce -3.0% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.42% | 19,074 | $1.9M | Reduce -1.0% |
| ADM Archer-Daniels-Midland Co. | 0.39% | 22,191 | $1.7M | Add +3.4% |
| GWW WW Grainger Inc. | 0.38% | 1,234 | $1.7M | Reduce -1.2% |
| SMG Scotts Miracle-Gro Co. | 0.38% | 24,077 | $1.6M | Reduce -0.5% |
| PLXS Plexus Corp. | 0.37% | 5,425 | $1.6M | Reduce -3.1% |
| AMZN Amazon.com Inc. | 0.34% | 6,216 | $1.5M | Add +9.6% |
| BMY Bristol-Myers Squibb Co. | 0.31% | 23,815 | $1.4M | Reduce -0.6% |
| LLY Eli Lilly & Co. | 0.30% | 1,108 | $1.3M | Reduce -1.9% |
| CAT Caterpillar Inc. | 0.30% | 1,237 | $1.3M | No change |
| PGR Progressive Corp. | 0.28% | 5,633 | $1.2M | Add +88.2% |
| CHKP Check Point Software Tech | 0.25% | 8,263 | $1.1M | Add +62.4% |
| VTWO Vanguard Russell 2000 ETF | 0.25% | 8,867 | $1.1M | Add +3.6% |
| RSP Invesco S&P 500 Equal Weight | 0.24% | 4,952 | $1.1M | Add +5.5% |
| LIN Linde PLC | 0.23% | 1,897 | $984K | Reduce -4.3% |
| VOO Vanguard S&P 500 ETF | 0.22% | 1,411 | $969K | Add +206.1% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.22% | 9,834 | $966K | Add +35.1% |
| TSM Taiwan Semiconductor-SP ADR | 0.22% | 1,976 | $946K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.21% | 1,252 | $937K | No change |
| NTRS Northern Trust Corp. | 0.21% | 5,293 | $924K | Reduce -5.6% |
| COST Costco Wholesale Corp. | 0.18% | 853 | $798K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.18% | 16,150 | $774K | Add +13.1% |
| J Jacobs Solutions Inc. | 0.18% | 6,109 | $770K | No change |
| BRK.A Berkshire Hathaway Inc. Class A | 0.17% | 1 | $749K | No change |
| V Visa Inc. Class A | 0.17% | 2,134 | $732K | Add +5.9% |
| RIO Rio Tinto PLC-Spon ADR | 0.17% | 7,662 | $727K | Add +122.9% |
| MO Altria Group Inc. | 0.16% | 9,718 | $709K | Add +11.0% |
| NVDA Nvidia Corp. | 0.16% | 3,489 | $698K | Add +4.4% |
| CL Colgate-Palmolive Co. | 0.15% | 7,249 | $665K | Add +1.4% |
| WFC Wells Fargo & Co. | 0.15% | 7,834 | $647K | Add +1.9% |
| CNI Canadian Natl Railway Co. | 0.15% | 5,347 | $639K | Add +0.6% |
| NUE Nucor Corp. | 0.15% | 2,853 | $637K | Reduce -4.1% |
| NSC Norfolk Southern Corp. | 0.14% | 2,000 | $629K | Reduce -5.4% |
| OTIS Otis Worldwide Corp. | 0.14% | 8,460 | $606K | Reduce -4.2% |
| ORCL Oracle Corp. | 0.13% | 3,934 | $577K | Add +4.7% |
| DE Deere & Co. | 0.13% | 881 | $560K | No change |
Portfolio Sells Q1 2026 → Q2 2026
| SGOV iShares 0-3 Month Treasury B | Reduce -24.3% | 2.18% | −0.89 |
| WMT Walmart Inc. | Reduce -2.8% | 2.97% | −0.62 |
| XOM Exxon Mobil Corp. | Reduce -5.2% | 1.42% | −0.57 |
| MCD McDonald's Corp. | Reduce -0.7% | 2.33% | −0.55 |
| CVX Chevron Corp. | Reduce -2.9% | 0.50% | −0.19 |
| NEE Nextera Energy Inc. | Reduce -1.1% | 1.14% | −0.16 |
| JNJ Johnson & Johnson | Reduce -1.2% | 3.36% | −0.14 |
| PG The Procter & Gamble Co. | Reduce -0.9% | 1.53% | −0.09 |
| RTX RTX Corp. | Reduce -0.9% | 0.69% | −0.07 |
| BP BP PLC-Spons ADR | Reduce -9.7% | 0.13% | −0.06 |
| VTIP Vanguard Short-Term Tips | Reduce -3.9% | 0.59% | −0.06 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.06 |
| PSX Phillips 66 | Sold out | 0.00% | −0.05 |
| FLS Flowserve Corp. | Reduce -0.4% | 0.78% | −0.05 |
| BMY Bristol-Myers Squibb Co. | Reduce -0.6% | 0.31% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -1.0% | 3.53% | −0.04 |
| DIS The Walt Disney Co. | Reduce -1.0% | 0.42% | −0.03 |
| OTIS Otis Worldwide Corp. | Reduce -4.2% | 0.14% | −0.03 |
| KO The Coca-Cola Co. | Reduce -1.7% | 1.68% | −0.03 |
| CPRT Copart Inc. | Reduce -1.4% | 0.09% | −0.03 |
| AFL Aflac Inc. | Reduce -1.5% | 1.45% | −0.02 |
| HL Hecla Mining Co. | Reduce -7.1% | 0.05% | −0.02 |
| EEFT Euronet Worldwide Inc. | Reduce -7.3% | 0.45% | −0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.7% | 0.63% | −0.02 |
| LIN Linde PLC | Reduce -4.3% | 0.23% | −0.01 |
| HD Home Depot Inc. | Reduce -0.9% | 2.65% | −0.01 |
| AMGN Amgen Inc. | Reduce -4.0% | 0.06% | −0.00 |
| NSC Norfolk Southern Corp. | Reduce -5.4% | 0.14% | −0.00 |
| PM Philip Morris International | Reduce -3.0% | 0.43% | −0.00 |
| TGT Target Corp. | Reduce -1.4% | 0.57% | −0.00 |
| FRME First Merchants Corp. | Reduce -5.6% | 0.08% | −0.00 |
| LKFN Lakeland Financial Corp. | Reduce -0.8% | 2.08% | −0.00 |
| SHW The Sherwin-Williams Co. | Reduce -0.1% | 0.12% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -6.0% | 0.06% | +0.00 |
| KMB Kimberly-Clark Corp. | Reduce -4.4% | 0.11% | +0.00 |
| PNC PNC Financial Services Group | Reduce -1.3% | 0.13% | +0.01 |
| SMG Scotts Miracle-Gro Co. | Reduce -0.5% | 0.38% | +0.02 |
| NTRS Northern Trust Corp. | Reduce -5.6% | 0.21% | +0.02 |
| NUE Nucor Corp. | Reduce -4.1% | 0.15% | +0.02 |
| EMR Emerson Electric Co. | Reduce -0.4% | 1.85% | +0.04 |
| AMAT Applied Materials Inc. | Reduce -20.6% | 0.13% | +0.05 |
| LLY Eli Lilly & Co. | Reduce -1.9% | 0.30% | +0.05 |
| GWW WW Grainger Inc. | Reduce -1.2% | 0.38% | +0.05 |
| GEV GE Vernova Inc. | Reduce -6.1% | 0.46% | +0.07 |
| GE General Electric | Reduce -5.2% | 0.55% | +0.08 |
| PLXS Plexus Corp. | Reduce -3.1% | 0.37% | +0.10 |
| CINF Cincinnati Financial Corp. | Reduce -0.5% | 1.15% | +0.10 |
| STLD Steel Dynamics Inc. | Reduce -8.9% | 1.40% | +0.11 |
| USB US Bancorp | Reduce -0.6% | 1.72% | +0.12 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 1.23% | +0.14 |
Portfolio Buys Q1 2026 → Q2 2026
| ABBV Abbvie Inc. | Add +0.6% | 2.83% | +0.23 |
| VOO Vanguard S&P 500 ETF | Add +206.1% | 0.22% | +0.15 |
| CARR Carrier Global Corp. | Add +0.2% | 0.79% | +0.14 |
| PGR Progressive Corp. | Add +88.2% | 0.28% | +0.14 |
| SYY Sysco Corp. | Add +0.3% | 1.05% | +0.10 |
| RIO Rio Tinto PLC-Spon ADR | Add +122.9% | 0.17% | +0.09 |
| GPC Genuine Parts Co. | Add +3.2% | 1.03% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +0.7% | 1.55% | +0.07 |
| CHKP Check Point Software Tech | Add +62.4% | 0.25% | +0.07 |
| TXN Texas Instruments Inc. | New | 0.07% | +0.07 |
| ADP Automatic Data Processing | Add +0.1% | 1.91% | +0.06 |
| IWS iShares Russell Mid-Cap Valu | New | 0.06% | +0.06 |
| STZ Constellation Brands Inc. Class A | New | 0.06% | +0.06 |
| MMM 3M Co. | Add +0.4% | 1.16% | +0.05 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +35.1% | 0.22% | +0.05 |
| AMZN Amazon.com Inc. | Add +9.6% | 0.34% | +0.05 |
| UNP Union Pacific Corp. | New | 0.05% | +0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +13.1% | 0.18% | +0.05 |
| EFA iShares MSCI Eafe ETF | New | 0.05% | +0.05 |
| VTWO Vanguard Russell 2000 ETF | Add +3.6% | 0.25% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +1.7% | 0.72% | +0.04 |
| UPS United Parcel Service Class B | Add +1.8% | 0.79% | +0.03 |
| GFL GFL Environmental Inc.-Sub VT | Add +80.6% | 0.09% | +0.03 |
| VEA Vanguard Ftse Developed ETF | Add +18.5% | 0.13% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +5.5% | 0.24% | +0.02 |
| MO Altria Group Inc. | Add +11.0% | 0.16% | +0.02 |
| V Visa Inc. Class A | Add +5.9% | 0.17% | +0.02 |
| IWP iShares Russell Mid-Cap Grow | Add +17.7% | 0.09% | +0.02 |
| IWM iShares Russell 2000 ETF | Add +13.9% | 0.08% | +0.02 |
| NVDA Nvidia Corp. | Add +4.4% | 0.16% | +0.02 |
| FISV Fiserv Inc. | Add +24.5% | 0.64% | +0.02 |
| EEM iShares MSCI Emerging Market | Add +10.3% | 0.07% | +0.01 |
| CNI Canadian Natl Railway Co. | Add +0.6% | 0.15% | +0.01 |
| CSL Carlisle Cos Inc. | Add +8.2% | 0.08% | +0.01 |
| ADM Archer-Daniels-Midland Co. | Add +3.4% | 0.39% | +0.01 |
| CL Colgate-Palmolive Co. | Add +1.4% | 0.15% | +0.00 |
| CB Chubb Ltd. | Add +2.6% | 0.61% | +0.00 |
| NVS Novartis AG-Sponsored ADR | Add +3.6% | 0.05% | −0.00 |
| WFC Wells Fargo & Co. | Add +1.9% | 0.15% | −0.00 |
| OKE Oneok Inc. | Add +10.4% | 0.50% | −0.00 |
| ORCL Oracle Corp. | Add +4.7% | 0.13% | −0.00 |
| AES AES Corp. | Add +0.2% | 0.47% | −0.01 |
| CRM Salesforce Inc. | Add +21.7% | 0.47% | −0.02 |
| SYK Stryker Corp. | Add +9.3% | 1.11% | −0.02 |
| DG Dollar General Corp. | Add +5.3% | 0.50% | −0.02 |
| PPL PPL Corp. | Add +2.9% | 0.43% | −0.04 |
| APD Air Products & Chemicals Inc. | Add +0.3% | 0.92% | −0.05 |
| REGN Regeneron Pharmaceuticals | Add +19.1% | 0.55% | −0.06 |
| LMT Lockheed Martin Corp. | Add +10.2% | 0.47% | −0.07 |
| PEP Pepsico Inc. | Add +3.7% | 0.43% | −0.08 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 130 | $436.2M | MSFT, AAPL, MRK, CSCO, JNJ |
| Q1 2026 | 127 | $408.6M | MSFT, AAPL, WMT, MRK, JNJ |
| Q4 2025 | 124 | $406.8M | MSFT, AAPL, WMT, MRK, JNJ |
| Q3 2025 | 122 | $407.9M | MSFT, AAPL, HD, WMT, SGOV |
| Q2 2025 | 117 | $372.5M | MSFT, AAPL, WMT, HD, MCD |
| Q1 2025 | 115 | $359.8M | MSFT, AAPL, HD, WMT, MCD |
| Q4 2024 | 114 | $365.1M | MSFT, AAPL, WMT, HD, MRK |
| Q3 2024 | 118 | $371.4M | MSFT, AAPL, HD, MRK, WMT |
| Q2 2024 | 114 | $340.3M | MSFT, MRK, AAPL, HD, WMT |
| Q1 2024 | 116 | $354.3M | MSFT, MRK, HD, AAPL, MCD |